Singapore world's 6th most expensive city

By Romesh Navaratnarajah:Climbing
up from ninth place, Singapore is now ranked the world's sixth most
expensive city to live in, according to the latest survey conducted by
the London-based Economist Intelligence Unit (EIU). Tokyo regained top spot as the world's most expensive city while Zurich – last year's top-ranked city – slid to seventh place.

"The
cost of living in Europe has seen relative declines thanks to economic
austerity and currency fears," said Jon Copestake, the report's editor.

"But
Asian cities have also been rising on the back of wage growth and
economic optimism. This means that over half of the 20 most expensive
cities now hail from Asia and Australasia."

The rankings of major Australian cities also saw a sizeable jump, with Sydney taking third spot and Melbourne fifth.

Meanwhile, the least expensive cities are Algiers (Algeria), Kathmandu in Nepal and India's New Delhi and Mumbai.

To
determine the cost of living, the research team collected more than 400
individual prices across products and services in 140 global cities. Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg Related Stories: Marriott to double in size in Thailand